Canada’s CommercializationIlse Challenge
Ilse Treurnicht CFI AGM – October 2008 Remarkable Times pg 2 Healthy Economy
Our Strong Education System Competitive Productive Science Base Advantages Talented & Skilled Workforce
Livable Communities
$### Global Persona Multicultural Civil Society
pg 3
pg 3 Competing is one thing. Winning is another! At an average of only 3.3 people per sq km, Canada has one of the lowest population densities in the world. EdmontonEdmonton CalgaryCalgary Saskatoon VanVanccouverouver Saskatoon QuébecQuébec CityCity
HalifaxHalifax
OttawaOttawa WinnipegWinnipeg MontrMontréaléal WaterlooWaterloo
LondonLondon HamiltonHamilton TorontoToronto Is the world Flat or Spiky?
pg 7 Global talent, $$ are mobile
pg 8 How do we create stickiness?
pg 9 32.6 VS. 300 1.1 1.3 Million People Million Billion Billion
pg 10 pg 11 pg 12 pg 13 Place matters
Local Strength,pg 14 Global Reach
College of Founders
AICAIC LiLimitedmited MDSMDS Inc.Inc.
AstraZAstraZenecaeneca CanadaCanada Inc.Inc. Mr.Mr. PeterPeter MunkMunk
Mr.Mr. LawrenceLawrence S.S. BloomBloombbergerg RBCRBC FinancialFinancial GroupGroup
CancerCancer CareCare OntarioOntario MrMr.. JosephJoseph L.L. RotmanRotman
EliEli LillyLilly CanadaCanada Inc.Inc. Mr.Mr. AllanAllan SlaightSlaight
Dr.Dr. JohnJohn R.R. EvansEvans Mr.Mr. WilliamWilliam P.P. WilderWilder
MrMr.. ArthurArthur S.S. LabattLabatt
The Physical Platform
The MaRS Centre is a convergence facility located in the heart of Toronto’s Discovery District, Canada’s largest research cluster
Phase I of the MaRS Centre (700K sf ) is home to over 70 organizations Ratio of private to public sector tenants is 3:1 MaRS Incubator (35K sf) houses 30 promising emerging life sciences, engineering and information technology companies MaRS Collaboration Centre is a conference venue, for use by MaRS, its tenants and the community Phase II (750Ksf) is scheduled to open in 2010
pg 19 Universities Proof of Principle Grants Research Hospitals Pre-Seed Funds
Individual Angels
Scientists
Philanthropists Inventors Generating“ “ VCs Purposeful Banks Collisions Individual Service Providers Entrepreneurs Government Incubator Companies Industry Associations
Regional Innovation Small/Medium Organizations Sized Business Large Sector-based Corporations Organizations pg 20 Phase I Phase II Anchored in Community
pg 22 SStrongtrong UniversitiesUniversities mattermatter…… Strong Science & Technology Pipeline
pg 24 Linking Creative and Business Assets of the City
Discovery District Financial District Creative & Arts District
Gardiner Museum of Ceramic Art Royal Conservatory of Music Royal Ontario Museum
Women’s College
University of Toronto The MaRS Centre UHN Toronto General UHN Princess Margaret Hospital for Sick children Mount Sinai Ryerson Toronto Rehab Inst University Art Gallery of Ontario TIFF & OCAD Canadian Opera House Financial District
Entertainment District
pg 25
Collaboration Networks
Shared Advantage pg 27 Regional Partnerships
Province of Ontario
(Ottawa) MaRS Landing (Guelph)
Peterborough Innovation Cluster (Waterloo Region)
TECH Alliance (London) (Hamilton)
pg 28 Edinburgh
China
India
CANADA CHINA EDINBURGH, SCOTLAND INDIA Vancouver FLORIDA
Seattle EASTERN MASSACHUSETTS
Toronto Montreal LOS ANGELES METRO NEW JERSEY/SUBURBAN PHILADELPHIA NEW YORK CITY Eastern Massachusetts New York City RESEARCH TRIANGLE PARK New Jersey / Suburban Philadelphia SEATTLE Suburban Washington D.C. San Francisco Bay SAN DIEGO SAN FRANCISCO BAY SUBURBAN WASHINGTON D.C. Los Angeles Metro Research Triangle Park, N.C. San Diego
Florida
pg 29 pg 30 pg 30 Cultural Gap Universities Angel/Seed Early Tech Later Stage Global Hospitals Stage Stage Transfer Financing Gap Financing Markets Gov. Labs VC VC Skills Gap
Early Research IP Market Needs Lab Prototype Engineering Sales Production
Research Push
Cultural gap is a critical challenge Mismatch of offerings to VC/market needs Limited business focused project management High technology risk, lack of pre-seed capital for commercial validation Limited strategic bundling of IP or portfolio management IP/Technology Platform Product Platform
Entering the Gap Leaving the Gap Knowledge/education focus Product/business focus No Management Early management Limited IP protection Strengthened IP portfolio High technology risk Technology proof-of-concept Limited market intelligence Market/customer feedback No product/commercial strategy Focus and development roadmap Broad scope, curiosity driven Milestones and timelines Limited understanding of financing options Positioned for seed funding Publications Confidentiality The commercial development of academic research results are particularly challenging in Canada:
Nascent technologies Limited number of sophisticated R&D intensive receptors locally Limited funding for market validation Limited risk capital Few serial technology entrepreneurs with global experience Small local market for early customer validation
pg 33 A Novel Commercialization Approach
Slow Process Science Capital Business = High Risk
pg 34 A Novel Commercialization Approach
Demand‐based, Business market focused innovation Increased speed == Improved scope Science Capital Scalability Multi‐dimensional resources
pg 35 MaRS Business Services
Advisory Capital Commercialization Services Services Services
Market Intelligence
Entrepreneurship Education
pg 36 MaRS Business Services
Commercialization Advisory Capital Services Services Services
Market Intelligence
Entrepreneurship Education
pg 37 Scale and Leverage
pg 38 Innovation Capacity Integrated Commercialization Platform
MaRS Innovation
pg 39 MaRS Innovation will, for the first time, aggregate the exceptional discovery pipeline of 14 leading Toronto academic institutions to build a diversified portfolio of assets, and harness the economic potential of the best opportunities.
pg 40 Build a professionally managed, business accelerator platform as a single point of entry for industry partners and investors
Increase the scale, scope and viability of IP offerings, and the quantity and quality of deal flow from partner institutions
Facilitate strategic research collaborations with industry partners
Launch and grow robust spin-off companies
Attract new talent
Catalyze and attract sources of risk capital for translational research, market validation, company formation and growth
Best in class performance, with significant impact pg 41 Culture of Entrepreneurship
Culture Draws Talent EngageEngage YoungYoung PeoplePeople
pg 43 pg 43 Talented new Canadians Fuel Growth Public/Private Partnership
pg 45 Private/Public Partnerships Public & Private Mix
OnSETT
University of Toronto Asset Management
pg 46 PublicPublic && PrivatePrivate MixMix
OnSETTOnSETT
UniveUniverrsitysity of of To Torontoronto As seAst Managset Manemaegntement
pg 47 Porous Boundaries
Entrepreneurship
Science & Technology Social Technology Incubation Innovation Innovation Investment
Capacity
pg 48 Could a $100 Laptop Eliminate Poverty?
pg 49 Economic Impact
Real Estate Services Cluster Development
Office & Laboratory Facilities | MaRS Incubator Strategic Partnerships | Stakeholder Support
MaRS Centre Development | IT/AV Services Community Programs | Awards & Recognition
MaRS Collaboration Centre Talent & Knowledge Management
Business Services Public Policy
Commercialization | Market Intelligence | Capital & Investment MaRS Advisory | Entrepreneurship Education Building Growth Companies
Human Capital Risk Capital
Sales & Marketing Proof of Concept Business Development Angel & Seed Product Engineering Venture Capital Finance Growth & Expansion Operations etc… etc..
pg 51 pg 52 pg 53 Lessons, Opportunities and Challenges
MaRS is still a start-up …..
Leadership: Private sector leadership, sense of urgency
Place: Location, urban setting, convening power
Innovation Pipeline: Quality and scale
Model: Market facing, outside academe
Partnership: Harnessing of public & private resources
Values: Inclusiveness, collaboration, public purpose
Culture: Entrepreneurial
Position: Neutral territory, independence “Collaborative leaders have a natural or trained tendency to see connections and possibilities where others might see barriers or limitation. And the connections are usually to a larger purpose, one that gives them energy and hope.”
Dr. John Evans Chair – MaRS Former Chair - CFI
Source: Working Across Boundaries: Making Collaboration Work in Government and Nonprofit Organizations By Russell M. Linden Contributor Russell M. Linden, Published by Wiley_Default, 2002 www.marsdd.com pg 58 Ilse Treurnicht CEO, MaRS Discovery District T 416-673-8102 E [email protected] W www.marsdd.com
pg 59